The Mortgage Files

Nationally syndicated mortgage news and advice from Senior Loan Officer Scott Sheldon.

How earning more income affects your ability to buy a home.

How earning more income affects your ability to buy a home

By Scott Sheldon / April 3, 2023

If you’re thinking about purchasing a house, it’s not just your credit score and your down payment that counts, it’s also your income, as your income drives affordability. How much income you generate is going to determine whether you’re able to buy a home. Here are some things to know about income when buying a…

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4 proven ways real estate wealth

4 proven ways real estate will make your wealthier

By Scott Sheldon / January 8, 2023

If you’re thinking about buying a home, good, it’s a sound financial decision and it’s the bedrock by which most Americans in America have created wealth for themselves and their families. Here are the four pillars of owning real estate and how they all work in tandem with each other to make you wealthier as…

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How to determine which mortgage loan program is best based on your credit score

Why do mortgage companies have to pull a credit report?

By Scott Sheldon / August 21, 2022

When you apply to purchase or refinance a home the mortgage company is required to pull a copy of your credit report in order to issue a credit decision. Here are things you need to be aware of as it relates to your credit report and credit score from a financial services provider…   The…

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When are housing prices going to return to normal?

When are housing prices going to return to normal?

By Scott Sheldon / June 29, 2022

For those that have been sitting on the sidelines, watching what’s happening in the market. Are you thinking to yourself “gosh I should have bought a house last year or a few years ago!” Remember, hindsight is 20-20 and you can’t regress you can only go forward. So, when are housing prices going to return…

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Should you refinance into a higher rate mortgage?

Should you refinance into a higher rate mortgage?

By Scott Sheldon / April 3, 2022

It is no surprise inflation is upon us, and interest rates are feeling the rising cost of goods and services. Everything seems like it is going up in price. Mortgage rates are no exception. One thing you might want to consider as it relates to refinancing your house is there is a net tangible benefit.…

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Should you refinance during rising rates?

Should you refinance during rising rates?

By Scott Sheldon / March 14, 2022

If you’re thinking about refinancing your house and you’ve been on the fence; now would be a good time to start that application. Interest rates are all relative so it’s important to understand the total picture when deciding whether you should refinance your property.   It’s no surprise that the federal reserve more than likely…

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mortgage income covid 19 202

How to get a mortgage if your income was affected by Covid_19 in 2020

By Scott Sheldon / May 25, 2021

If you experienced any financial difficulty in 2020 and are now back on your feet and looking to purchase or refinance a home this information is for you… Every mortgage company is going to review your situation a little bit differently unfortunately, it’s not one size fits all as a result some lenders have an…

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Home unlocked with key

How you use your money make affect your mortgage options

By Scott Sheldon / December 30, 2020

If you want a mortgage you need to be prepared financially and have all your ample documentation set up and ready to go. One such thing you need to be aware of is using cash. Here’s how to best support your cash when using down payment monies and or reserves to purchase a home…. First…

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